Cost of living comparison between Virginia and Florida

virginia logoAre you thinking of moving to the Sunshine State? Have you had enough of the cold weather and do you wish for a year without seasons? Then this is a great idea. Maybe your dream job is there. Perhaps you are following the love of your life, who knows. In the end, there are so many people who decide to retire in Florida because of all the benefits. And let’s not forget the fact that there is no income tax in Florida. That is always a nice bonus to have, right? Whatever the reason you are considering to move to this beautiful state, you need to prepare. We know that these kinds of decisions are not something to make lightly. That is why we will help you with the cost of living comparison between Virginia and Florida.

Comparison between Virginia and Florida

Firstly, let’s talk about the basics. Between the Atlantic Coast and the Appalachian Mountains, in the Southeastern and Mid-Atlantic regions of the United States, lies Virginia. It is home to about 8.5 million people who enjoy a humid subtropical climate. The summers are hot and the winters are cold and there is in average of seven tornados per year. However, they are mostly F2 category, which is good news. Also, there are two other famous seasons. The season of hurricanes and spring wildfire season. Which means you need to follow strict rules in order to avoid wildfires. The fun fact is that eight American presidents were born here, which is more than any other state. So, it is no wonder that this state is called the Mother of Presidents.

On the other side, we have Florida. With a little over 21 million residents, this is the third most populous state in the US. The humid subtropical climate covers the north of the country, while the south is blessed with a true tropical climate. That is why it’s called the Sunshine State and why you can dip your toes in the ocean almost every day of the year. The chances are high that you’ll never see snow in Florida, unlike Virginia. However, they have something in common. When it comes to tornadoes, Florida takes the lead. It has the largest number of tornadoes per year in the whole United States. Luckily, they are weaker than the ones in the Midwest and Great Plains, although hail typically follows. Also, Florida is known for the hurricane season, which lasts from the beginning of the June, until the end of November.

Economy

If we are talking about the comparison between Virginia and Florida, it’s crucial to understand their economies.

One-third of the jobs in Virginia are in the service sector but the economy has different sources of income. That includes business, military, federal and local government and farming that has some top corn and soybean producing counties. Since recently, among all the states, Virginia has had the biggest concentration of technology workers. In 2006 the highest-grossing export became computer chips. Which is a big reverse from traditional exports like coal and tobacco. Even though it is an employment-at-will state, the unemployment rate is below the national average at 2.9%.

Going south, we will find the unemployment rate of 3.5% in Florida, which is also lower than in most states. However, even though FL is the number four state by the size of the economy, it is a fact that it is easier to land a job in bigger cities like Orlando and Miami, than in some smaller ones. The largest sector of employment are government, education and health service, trade, transportation and utilities, leisure and hospitality and professional and business services. And, there are only seven states in the US that don’t levy a personal income tax. Let’s face it, it sounds great, right? Well, we can’t talk about the comparison between Virginia and Florida without mentioning the cost of living.

What does the cost of living mean?

In order to understand the standard of living in one state or city, we must talk about the cost of living. Since it is hard to get the right picture on the basis of the whole state, we will perform a comparison between Virginia and Florida by taking two cities into consideration. For this purpose, we are concentrating on Miami, Florida and Richmond, Virginia. That way, if you decide to move, you will be much better prepared for that awaits you. No matter which city you choose to live in, make sure to ask for moving assistance if you decide to move. Primarily because you will need all the help you can get in order to execute a stress-free relocation.

The cost of living includes some everyday expenses

If you can’t experience it for yourself, you can certainly find out about some prices in local online magazines. However, we will help you with some basic information and differences.

The cost of living sets your living standard

  • Consumer prices. Comparing the prices of a basket of consumer goods and services, they are 16.63% lower in Richmond.
  • Rent prices. If you are moving from Florida to Virginia, you will be happy to know that rent prices are 40.05% lower in Richmond.
  • Restaurant prices. Going the opposite way, if you prefer eating out, know that the prices are higher in Miami’s restaurants by 18.25%. But with all that Cuban cuisine, it pays off.
  • Grocery prices. If you decide to stay in Richmond, you will save, on average, 17.12% compared to Miami.
  • Local purchasing power. To sum up, Richmond has a 46.06% higher purchasing power than Miami.

We can continue the comparison between Virginia and Florida in some other aspects, like transportation, childcare, and sports and leisure. You would see that in almost every aspect, Virginia is cheaper than Florida. Which is understandable. However, there is one thing that is more expensive in Virginia. Can you guess what it is? Yes, it is the cost of utilities. Which really doesn’t come as a surprise when you think about the cold, snowy winter.

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The book, with additional reporting by Zach Pereles, Scott Ratcliffe and Scott German, will take you from the aftermath of the stunning first-round loss to UMBC in 2018, and how coach Tony Bennett and his team used that loss as the source of strength, through to the ACC regular-season championship, the run to the Final Four, and the thrilling overtime win over Texas Tech to win the 2019 national title, the first in school history.
 
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